The Canadian operators of the world’s biggest equipment auctioneer have bought worldwide online equipment listing service Mascus. Burnaby, B.C.-based Ritchie Bros. announced Friday it has bought 100 per cent of the equity in Amsterdam-based Mascus for 24 million euros (C$36.8 million), plus up to 3.4 million euros (C$5.2 million) more, pending certain performance targets being […] Read more
Ritchie Bros. buys Mascus online equipment sites
U.S. grains: Prices steady on short-covering, gain for week
Chicago | Reuters –– U.S. grain and soybeans were roughly flat on Friday, stabilizing amid a lack of fresh fundamental news following steep gains earlier this week tied mostly to investor short-covering, traders and analysts said. Corn and soybean futures each were unchanged to slightly lower at the Chicago Board of Trade after prices failed […] Read more
Argentina declares flood emergency in six key farm provinces
Buenos Aires | Reuters — Six of Argentina’s main farm provinces were declared flood emergency areas by the government on Friday, making special credit lines and tax breaks available to affected growers in the soy- and corn-exporting powerhouse. The resolution, announced in the government’s morning gazette, covers the provinces of Cordoba, Santa Fe, Entre Rios, […] Read more
DuPont, Dow set home towns for merged spinoff units
Reuters — DuPont and Dow Chemical said two of the three units to be created and spun off following the companies’ mega-merger will be based in DuPont’s home town, and one in Dow’s home town. The two chemical companies agreed to combine in an all-stock merger in December, valued at US$130 billion at the time, […] Read more
Farm incomes set to fall from record high
Reuters — Canadian farm incomes look set to fall in 2016 after a year of record profits, but will still reach above-average levels, according to a report from the federal government. Rising receipts for crops and livestock have boosted incomes in recent years, due to greater demand in developing countries and a weak Canadian dollar, […] Read more
Drought watch kept on Alberta, early spring expected
CNS Canada — Above-average temperatures and limited precipitation could mean parts of the Prairies will struggle with soil moisture heading into the spring, according to one specialist. “The soil moisture that we have in the ground right now is similar to what we went into the winter with,” said Trevor Hadwen, agroclimate specialist with Agriculture […] Read more
U.S. grains: Wheat down on ample supplies
Chicago | Reuters — Chicago Board of Trade wheat futures fell more than one per cent on Thursday, easing from a two-session rally as traders returned their focus to record-large global inventories and poor export demand for U.S. supplies, traders said. Corn and soybean futures also declined. At the CBOT, March wheat settled down 6-1/4 […] Read more
Cargill to stop selling seed, inputs in Black Sea region
Chicago | Reuters –– Cargill will stop selling seeds, fertilizer and crop chemicals to farmers in the Black Sea region, as the global trader continues to cut back operations in the face of sliding commodity prices. The 150-year old company, one of the world’s largest privately held corporations, is in the middle of a restructuring […] Read more
CBOT weekly outlook: Soy, corn ‘starving for news’
CNS Canada –– Soybean and corn futures at the Chicago Board of Trade moved higher during the week ended Wednesday, as both commodities saw a short-covering correction off of nearby lows. However, large supplies and looming South American harvests remain bearish for the two crops, likely keeping the futures bouncing around in a sideways pattern […] Read more
U.S. grains: Prices jump on short-covering, oil rise
Chicago | Reuters –– Chicago Board of Trade corn futures gained for the second straight day on Wednesday, as the grain market enjoyed a price bump from investors continuing to cover short positions and as crude oil prices rose. Front-month CBOT March corn cracked through several moving averages during the day — including the 50-day […] Read more
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